Not All Dems In Hedge Funds' Back Pocket*

Author:
Updated:
Original:

At least one Democratic senator doesn’t seem to be afraid of taking on hedge funds, with the rest of Congress’s new majority party safely in thrall to hedgies’ campaign generosity. Senator Jeff Bingaman (D-NM) sent letters to FERC and CFTC yesterday wondering aloud why some weird/unexplained price movements in natural gas contracts just happened to have occurred right around the time a “multi-strategy” hedge fund in Greenwich lost a sizeable chunk o’ change. Alternatively, Sens. Chris Dodd and Pat Leahy prefer a less combative approach by which we either mean whatever it takes to not create tension at the cocktail parties they all attend together or just taking things easy around the office (No pants Thursdays!—or was that just when we were interning in the Corzine office, summer '05?).
Hate mail, after the jump.
*the only reason this is our third Amaranth post of the day is because we're indulging the J-man, as it's his first day back from prison.


Download file
Download file

Related

Vikram Pandit To Get Back In The Hedge Fund Saddle Again, At Some Point

Just a question of which hedge fund he'll be riding-- his own or his former Old Lane colleague's. The buzz on Wall Street is that ousted Citigroup CEO Vikram Pandit will return to the hedge-fund world. UK hedge fund Portman Square Capital declined to comment on chatter that its founder, Sutesh Sharma, is eager to nab Pandit for his new firm. Sharma, a former money manager at Pandit’s now defunct Old Lane hedge fund, launched Portman this year with $500 million...Pandit is viewed by the hedge fund community as a rainmaker due to his ties to deep-pocketed investors. “I wouldn’t be surprised if he felt the timing was right to join an existing fund . . . or start his own fund,” said Robert Olman of hedge-fund search firm Alpha Search Advisory Partners. Thinking ahead, how much do we predict Citi will pay to acquire Portman Square (or Pandit Partners) in order to lure Big Vik back, which is kind their thing? Last time around it was $800 million so they'll probably have to offer at least $2bn. Pandit Packing For London Hedges [NYP via FINalternatives]